Corporate digitalization in the european context: going one step further
| Autor | María del Pilar Galeote Muñoz |
| Cargo | Juris Doctor degree at Complutense University of Madrid (Spain) |
| Páginas | 283-298 |
MISCELÁNEA
283
ADVOCATUS | 43
ANÁLISIS
ECONÓMICO
DEL DERECHO
Corporate digitalization in the European
context: going one step further
MARÍA DEL PILAR GALEOTE MUÑOZ
Juris Doctor degree at Complutense University of Madrid (Spain).
Master’s degree in Corporate Law from IE Law School (Spain).
Professor of Corporate Law at IE Law School (Spain).
Professor of Negotiation at IE Business School (Spain).
SUMARIO:
I. Corporate digitalization in the European sphere.
II. Online formation of a company: the challenge of digitalizing its lifecycle.
III. Implementation of the digitalization directive: the German, Italian
and Spanish cases.
IV. Innovation, trust, and legal certainty: the next steps in corporate
digitalization.
V. Conclusions.
Corporate digitalization in the European context: going one step further
10.26439/advocatus2023.n043.6427
284
ADVOCATUS | 43 Revista editada por alumnos de la Facultad de Derecho de la Universidad de Lima
1. In 2012, the European Commission published the Action Plan of 2012, where it presented a communication to the
Council, the European Economic and Social Committee and the Commi ttee of the Regions entitled European
company law and corporate governance - a modern legal framework for more engaged shareholders and sustainable
companies. On that basis, in 2018, in execution of the Action Plan of 2012, the European Commission published
the “EU Company Law Package”, with two impor tant proposals: the initiative for the use of digital to ols in the
formation and registration of companies, and the p roposed reform of consolidated company law – Directive (EU)
(UE) 2017/1132 – as regards cross-border conversions, mergers and divisions.
2. In this regard, the denitio n of “Digital Single Market” is particularly relevant: it is one in which the fre e move-
ment of goods, persons, ser vices and capital is ensured and where individua ls and businesses can seamlessly
access and exercise online activities under conditions of f air competition, and with a high level of consumer and
personal data protection, irresp ective of their nationality or place of residence.
3. Directive (EU) 2012/17 of 13 June 2017 and Commission Implementing Regulation (EU) 2015/884, of 8 June 2015, regu-
lating and executing it. See The Roadmap of the European Commission, Inception impac t assessment–Ares 468 , (2 021).
RESUMEN:
The digitalization of corporations is o n the right path; however, the advantages sought by that process could be overshadowed by t he disad-
vantages that come with any technological pr ocess. The aim of this work is to make a careful analysis of the f ramework set out by the lawmakers
through Directive (EU) 2019/1151 of the European Parliament and of the Council, of 20 June 2019, amending Directive (EU) 2017/1132 as regards
the use of digital tools and processes in com pany law, and, based on the principles governing corporate digitalization, take the analysis one
step further, indicating where this issue shoul d go in the future. Although technology helps corp orations, its indiscriminate use in the corpor ate
sphere could lead us to a European model of capital comp any that bears no resemblance to the one we have now. It is a process in which more
advanced technology should be introduced p rogressively, in order to discover gradually how appropriate or not its ada ptation is. This opens up a
huge potential for modernizing corporate law that we shou ld take advantage of – with caution and securit y – but to the fullest.
Palabras clave: Digitalization, blockchain, voting agre ements, corporate law.
I. CORPORATE DIGITALIZATION IN THE
EUROPEAN SPH ERE
The European Commission has long been awa-
re of the importance of creating a unied and
modern corporate law that is adapted to the
digital world.1 Although the Commission has
been one of the forerunners, other European
institutions have also made eorts to foment
the digitalization of corporate law. This is reec-
ted in the communication which the European
Commission presented to the European Parlia-
ment, the Council, the European Economic and
Social Committee, and the Committee of the
Regions called “A Digital Single Market Strategy
for Europe”.2 Subsequently, in 2012, it created
the Business Registers Interconnection System
— BRIS.3
AB S T R A C T:
La digitalización de las corporac iones supone el camino correcto; sin embargo, los benecios que este proceso otorga ría se podrían ver
eclipsados por las desventajas inherente s a cualquier proceso de reforma tecnológica. El pro pósito de este trabajo es el de analizar la Directiva
(EU) 2019/1151, promulgada el 20 de Junio de 2019 por el Parlamento Europeo, en modicatoria de la Direc tiva (EU) 2017/1132, referente al uso
de herramientas y procesos digitale s en el Derecho Corporativo; basándose en los princ ipios que rigen a la digitalización de la corporació n, lleva
el análisis un paso adelante e indica a donde debería apunt arse en un futuro. Aunque la tecnología pueda ayudar a las corporacione s, su uso
indiscriminado puede llevarnos a una soci edad de capitales del modelo Europeo, que no guarda par ecido alguno con nuestra regulación. Se t rata
de un proceso que se debe introducir de maner a progresiva, con el n de descubrir gradualmente si es lo apropiado el a daptar estos procesos.
Esto sostiene un gran potencial par a la modernización corporativa de la que deberíamo s tomar ventaja, con la debida diligencia.
Keywords: Digit alización, blockchain, acuerdo de votación mancomunada, derecho cor porativo.
María del Pilar Galeote Muñoz
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